If you decide to sell your home within the first 10 years of buying equity then we must be given the option to buy back this part of your home. If we don’t buy it, you can sell it on the open market. We will then recover any equity that you owe to us at that time.
For example: you decide to buy 50% equity in your home with a market value of £70,000. Your share costs you £35,000.
In year 10 you decide to sell your home, and we choose not to buy back the 50% share from you.
We will then have the house valued. If it is valued at £120,000 then you must pay us 50% equity on the £120,000 (or £60,000).
You must also pay any remaining mortgage on your home.